More U.S. businesses are looking to solidify their footprint in China where a buoyant economy provides lucrative opportunities, said the American Chamber of Commerce in China (AmCham-China) in its 2011 White Paper on the State of American Business in China released on April 26.

About 85 percent of the chamber's member companies reported revenue growth in 2010, 78 percent of polled companies earned profits from their China operations and 83 percent planned to increase investments in China this year.

Contrary to the common notion that foreign companies come to China because of a cheap labor market and to export back to their home markets, U.S. companies expressed a stronger interest in breaking into the Chinese consumer market, said the report.

While the member companies continue to rank economic slowdown as the greatest risk to their Chinese operations, macroeconomic worries are not as dominant as in previous years.

Ted Dean, Chairman of AmCham-China, said Chinese authorities need to expand market access and improve regulatory transparency and consistency nationwide.

"As China seeks to transform its growth model and develop a knowledge-based economy, U.S. business can serve as a valuable resource by sharing expertise in technology and management," he said.

AmCham-China President Christian Murck noted some encouraging signs from the Chinese Government. Murck pointed out Chinese leaders have welcomed foreign involvement in the strategic emerging industries highlighted in the 12th Five-Year Plan, and he also applauded the extension of China's six-month campaign to crack down on violations of intellectual property rights.